Checkme Acquires DoctorOnline To Shake Up Egypt's Health-tech Ecosystem
Often times delays have proven to be dreadful. An action almost related to procrastination has in most cases provided a negative result in a given situation, especially health-related.
Delayed diagnosis is known to cause irreversible harm to affected individuals. The situation that would follow in such a case would be the persistence of symptoms which is a signal of worsening sickness.
To prevent such cases of delayed diagnosis, Checkme came into the scene in 2020 and now it acquires DoctorOnline. Checkme was founded as a patient-focused marketplace. Designed as a mobile application, it would procure on-demand medical lab services via various lab partners which would deliver safe, accurate, and quick lab-based results.
The startup is maximizing technology in healthcare. Users are able to receive outcomes in a short period without unwarranted delay. Through this sort of solution, treatment of symptoms can commence almost instantly.
In other to make a more effective impact in the Egyptian healthcare sector, Checkme acquired DoctorOnline. DoctorOnline is a health-tech startup with a mobile application. It provides virtual medical assistance as well as different medical services. One of the major services DoctorOnline has been known to offer virtual consultation with medical personnel.
The Checkme Acquisition
Both startups are great initiatives on their own, yet they can be greater. It takes a lot of going back and forth with both services as they are both needed to provide proper treatment.
This acquisition has the ability to change the activity in the Egyptian health-tech sector. DoctorOnline with Checkme,t becomes a super App that offers both services in one place, eradicating the need to source for both services on different platforms.
The joint acquisition will be providing users with on-the-go telemedicine and diagnostics services. This will be rendered by the maximization of helpful patient navigators and qualified medical professionals.
While speaking about the acquisition, CheckMe’s CEO Dr Nesma El Talawy said “This acquisition falls in line with our expansion strategy in the region and in line with the expansion of our service offering. According to McKinsey Global Institute, the costs saved by Health-tech to the healthcare sector could lie between $1.5 trillion and $3 trillion a year by 2030, which makes acquisitions like this pivotal in their economic impact in the region”.
While Doctor Online’s Founder Dr Mahmoud Abdel Hakim stated that “this new Acquisition was made possible with our sell-side mandate with Exits MENA, who was able to bring together the best strategic and financial output for the deal. The Health-Tech sector is still heavily unsaturated, and the more comprehensive a product, the better fit it will be for patients; who want their data to be safely protected while getting the healthcare that is quick, cost-effective and accurate.”
There is a scalability potential with this acquisition, yet until its hits the ground running, we will not be able to say for sure. Hopefully, both services are maximized on the go within the ecosystem.